HTT 202 Lecture Notes - Lecture 10: Resource Efficiency, Sustainable Development, National Accounts
6 Oct 2015
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Document Summary
Tourism provides employments, foreign exchange, income and tax revenue. The generators of economic impact for a destination area are visitors, their expenditures, and the multiplier effect. The unwto maintains statistics on tourism arrivals by what a country spends (expenditures) and what a country receives from visitor expenditures (receipts). The united states ranks first in receipts and second in arrivals. Spain maintains its position as the second biggest earner worldwide and the first in europe, and ranks 3rd in arrivals. Overseas travel is also referred to as long haul, meaning it is international travel outside of a respective origin region. Economics is concerned with the attainment of an optimum return from the use of scarce resources. Optimization occurs when agents seek to allocate the limited supply of tourism resources in the best possible way to meet the demands of tourists. The demands are the result of their psychological wants and physical/ functional needs.
